Albany International Corp. (AIN) to Issue Quarterly Dividend of $0.27 on April 7th

Albany International Corp. (NYSE:AIN) declared a quarterly dividend on Friday, February 21st, RTT News reports. Shareholders of record on Friday, March 21st will be paid a dividend of 0.27 per share by the textile maker on Monday, April 7th. This represents a $1.08 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, March 21st.

Albany International has increased its dividend by an average of 9.0% per year over the last three years. Albany International has a dividend payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Albany International to earn $3.79 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 28.5%.

Albany International Stock Down 0.1 %

Shares of NYSE AIN opened at $73.90 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. Albany International has a 1 year low of $67.39 and a 1 year high of $96.49. The stock’s 50-day simple moving average is $78.77 and its 200-day simple moving average is $79.95. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 23.09 and a beta of 1.37.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.05). Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business had revenue of $286.91 million for the quarter, compared to analysts’ expectations of $299.52 million. As a group, equities analysts anticipate that Albany International will post 3.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. TD Cowen raised shares of Albany International to a “strong-buy” rating in a report on Thursday, December 19th. StockNews.com downgraded Albany International from a “buy” rating to a “hold” rating in a report on Friday, February 28th. JPMorgan Chase & Co. decreased their price target on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Truist Financial upped their target price on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Robert W. Baird cut their price target on Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Albany International has an average rating of “Moderate Buy” and an average target price of $83.00.

Albany International Company Profile

Albany International Corp., together with its subsidiaries, engages in the machine clothing and engineered composites businesses. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing for use in the manufacturing of papers, paperboards, tissues, towels, pulps, nonwovens, building products, tannery, and textiles, as well as fiber cement and several other industrial applications.